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The French farm ministry forecast grain maize plantings for 2023 at 1.25 million hectares, down 7.6% from 2022, and 1.33 million hectares including seed maize, the lowest in more than 30 years. Sunflower seed area is expected to rise to 868,000 hectares, the highest this century.
Sugar beet area was also revised down.
A sharp fall in French maize area reduces EU corn supply and may support corn prices and feed costs in Europe. The shift toward sunflower seed could add to sunflower meal supply later.
brecorder.comReutersMay 17, 2023After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
